FORVIA first automotive company with net-zero target approved by the Science Based Targets Initiative (SBTi)
FORVIA, the world’s 7th largest automotive technology company combining Faurecia and HELLA, announces today that its joint CO2 neutrality roadmap was validated by the Science Based Target initiative (SBTi) on June 6, 2022. Together, Faurecia and HELLA will reach net zero emissions by 2045 – an objective corresponding to the most ambitious standard of SBTi. Only twenty companies worldwide have had their net zero commitments approved so far.
The targets cover:
- Overall net-zero target: FORVIA commits to reach net-zero greenhouse gas (GHG) emissions across the value chain by 2045, from a 2019 base year.
- Near-term targets: FORVIA commits to reduce absolute scope 1 and 2 GHG emissions 80% by 2025, from a 2019 base year. FORVIA also commits to reduce absolute scope 3 GHG emissions 45% by 2030, from a 2019 base year.
- Long-term targets: FORVIA commits to reduce absolute scope 1, 2 and 3 GHG emissions 90% by 2045, from a 2019 base year.
This third target represents a 90% reduction in the emissions of Faurecia and HELLA production plants and products for their full lifecycle, “from cradle to grave”. The last 10% will be offset by removals, meaning CO2 from the atmosphere will be sequestrated in sustainable materials like plastics. FORVIA launched its Sustainable Materials division a year ago for this purpose.
The SBTi’s approval is highly encouraging and recognizes our efficiency in leading the urgent transformation of our industry. Faurecia is already acting on many fronts to combine business growth and environmental protection. For the planet, we are continuously rethinking our products (materials, architectures) and the way we produce them: using less, just necessary and, decarbonated energy in our industrial facilities. We now share an ambitious 2045 net-zero target with HELLA – confirming FORVIA’s leadership in our sector.
As released in October 2021, the SBTi Net-Zero Standard provides a common, science-based understanding of net-zero, requiring deep and complete decarbonization, applying to all sectors, anywhere in the world. It offers companies a robust certification to demonstrate to consumers, investors, and regulators that their net-zero targets are reducing emissions at the pace and scale required to keep global warming to 1.5°C by 2050 at the latest.
Our progress is already quantifiable. By end-2023, we will have 1 million square meters of solar panels at 150 of our sites across 22 countries, representing 7% of our global electricity needs and8% improvement in our energy efficiency by 2021 within 2 years. On the products side, our Sustainable Materials division is already developing breakthrough new materials made of biomass and recyclates, with an objective to reach 30% of recycled plastics in our vehicle interiors by 2025. FORVIA teams are highly mobilized to not only reduce the CO2 footprint of our activities, but also the footprint of the vehicles we equip, in their full lifecycle.
Energy (scopes 1 & 2):
- A partnership with Engie on energy saving solutions to be deployed across more than 100 Faurecia sites in Europe, China, Brazil and Mexico by mid-2022. These efforts will enable 15% reduction of site energy consumption. KPMG advised Faurecia to prepare its solar panel equipment program.
- Power purchase agreements (PPA) with ENGIE and EDP to equip over 150 sites in 22 countries with solar panels, representing about 100 hectares of solar panels on Faurecia’s sites globally.
- A partnership with Schneider Electric on off-site renewable electricity purchasing.
Materials (scope 3):
- A pioneering cooperation with Veolia, to achieve an average of 30% of recycled plastics for our automotive interior modules by 2025.
- A partnership with the green steel maker SSAB to develop ultra-low CO2 seat structures
- The creation of a division for sustainable materials, that aims to enrich the Group’s portfolio with cutting-edge sustainable and smart materials.
- A commitment to hydrogen as the energy of the future.
- The appointment of Jean-Bernard Lévy as new Board member and chairman of Faurecia’s Governance, Nominations and Sustainability Committee - the name of which has been revised to better reflect the extension of its duties to social and environmental responsibility.
Commitments and best practices sharing
- Signing of the G20 “We Mean Business Coalition” letter ahead of COP26 and membership in Entreprises pour l’Environnement (EpE), a French think-tank bringing together more than 60 French and international companies from all business sectors, willing to better include the environment in their strategy and business decisions.
- Strong CO2 neutrality commitments from HELLA
● An accelerated time-to-market and development thanks to the technological know-how and industrial capacities of both partners.